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COALITION SEEKING TO PROVIDE GREATER CHOICE FOR PAID PARENTAL LEAVE
THE HON SUSSAN LEY MP
Deputy Leader of the Opposition
Shadow Minister for Women
Shadow Minister for Industry, Skills and Training
Shadow Minister for Small and Family Businesses
THE HON ANGUS TAYLOR MP
Shadow Treasurer
THE HON MICHAEL SUKKAR MP
Shadow Minister for Social Services
Shadow Minister for NDIS
Shadow Minister for Housing
Shadow Minister for Homelessness
JOINT MEDIA RELEASE
10 September 2024
COALITION SEEKING TO PROVIDE GREATER CHOICE FOR PAID PARENTAL LEAVE
The Coalition supports the economic security of women and families. In line with this commitment, the Coalition provided in-principle support for super on government-funded paid parental leave earlier this year.
Since then we have worked through the Paid Parental Leave Amendment (Adding Superannuation for a More Secure Retirement) Bill 2024 which will establish superannuation contributions on Paid Parental Leave for births and adoptions on or after 1 July 2025.
In recognition of the fact that it has never been more expensive to raise a family and in line with our commitment to supporting the choices of Australians, the Coalition will seek to amend the legislation to introduce more flexibility for paid parental leave.
Under the Coalition’s amendments, Australian parents eligible for government funded paid parental leave will be able to choose to receive:
- Superannuation contributions on government funded paid parental leave; or
- An additional two weeks of government funded paid parental leave, increasing leave to 26 weeks after 1 July 2025 and 28 weeks after 1 July 2026; or
- A one-off payment equal to the total value of the superannuation entitlement for government funded paid parental leave. From 2025 when the scheme will reach 24 weeks, the contribution is estimated to be around $2,900. This will increase to around $3,140 in 2026 when the scheme reaches 26 weeks.
Individuals will be entitled to the same level of financial support regardless of the option chosen.
Superannuation is not the government’s money, it is not the superannuation industry’s money, it is your money. The Coalition believes Australians should have the choice to use their superannuation entitlements to help them live their lives.
Under the Coalition’s plan, should parents wish to direct their entitlements to super they will be able to do so; should they need immediate support with the costs of caring for their newborn they have that choice too.
Paid Parental Leave is an entitlement that both men and women should be taking up to spend time with their newborns.
Families are facing additional financial burdens due to this government’s cost-of-living crisis and the Coalition will better support them to spend time with their newborns.
ENDS